GE HEALTHCARE TECHNOLOGIES INC. vs ResMed Inc., two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
GE HealthCare is an imaging-and-monitoring industrial spun off with its parent's balance-sheet habits, 0.95 turns of debt and a currently negative free-cash yield; ResMed is a focused sleep-and-respiratory franchise with almost no debt and a 6% free-cash yield. The margin structures belong to different industries wearing one label: ResMed's 62.3% gross and 34.9% operating margins against GE HealthCare's 38.5% and 10%. The market prices the difference at 3.6 turns, 19.3 times for ResMed against 15.8 for GEHC, remarkably little for a three-fold operating-margin gap. Returns on assets, 17.3% against 5.1%, restate it. The industrial is cheap because it earns like one; the franchise is barely dearer while earning like software.
Comparison updated 2026-07-10.
| Metric | GEHC | RMD |
|---|---|---|
| Price | $65.69 | $200.28 |
| Market cap | $30.0B | $29.2B |
| Sector | Medical Devices | Medical Devices |
| Stage | Mature | Mature |
| Implied growth (priced in) | +6.5% | +4.3% |
| P/E | 15.8 | 19.3 |
| P/B | 2.81 | 4.50 |
| P/S | 1.43 | 5.27 |
| EV/EBITDA | 13.9 | 13.3 |
| Revenue growth | +5.9% | +10.3% |
| Gross margin | 38.5% | 62.3% |
| Operating margin | 10.0% | 34.9% |
| Net margin | 9.1% | 27.4% |
| Return on equity | 17.9% | 23.4% |
| Return on assets | 5.1% | 17.3% |
| Return on invested capital | 10.4% | 21.0% |
| FCF yield | -0.4% | 6.0% |
| Dividend yield | 0.2% | 1.1% |
| Debt / equity | 0.95 | 0.10 |
| Current ratio | 1.22 | 3.01 |
| Altman Z (solvency) | 1.57 | 8.30 |
| Piotroski F (quality) | 4 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.